EUGENE, Ore. -- Councilors moved forward on Monday night with plans to redevelop a former utility property along the Willamette River, taking the next step in a transformative project with a nine-digit price tag.
By a 7-1 vote, the council agreed to key terms of a development agreement with Williams/Dame & Associates, the Portland-based developer of the project. Councilors also began the process of changing the zoning on the 16-acre property and created a local improvement district.
Councilor Betty Taylor voted against the project.
As part of the final contract, Williams/Dame will buy about eight acres of land for $2.7 million. The company will also pay 50 percent of the project's infrastructure costs.
The city will keep some property for an affordable housing project and will construct a one-acre "park plaza" to go along with the three-acre Riverfront Park.
The most recent plans for the property call for 215 apartments, 70 town homes, a hotel, restaurants, retail space and a three-acre park.
Officials say the project will cost the city $12.2 million, including $7.7 million for infrastructure and 1.4 million for sidewalks.
Williams/Dame will invest about $113 million, documents show.
The next public meeting on the project will be held on July 16.